2017 ORS 744.864¹
Permissible sales
  • required notices and disclosures
  • evidence of coverage
  • prohibition on representing owner as insurer

(1) A licensee may sell insurance only:

(a) Of the type described in subsection (2) of this section;

(b) In connection with and incident to renting individual storage space to an occupant at a self-service storage facility; and

(c) In accordance with the requirements set forth in subsection (3) of this section.

(2) A licensee may sell insurance that covers an occupant only for personal property that is lost or damaged at the self-service storage facility where the licensee sold the insurance to the occupant.

(3)(a) A licensee that offers to sell insurance to an occupant shall provide written material that the Director of the Department of Consumer and Business Services approves and that:

(A) Summarizes the material terms of the insurance coverage, identifies the insurer, states the premium price and describes the benefits, exclusions and conditions of the insurance policy;

(B) Discloses that the insurance may duplicate or overlap with coverage the occupant may have from other insurance policies, such as a renter’s policy, a homeowner’s policy, a vehicle policy, a watercraft policy or another source of property insurance;

(C) States that renting individual storage space at the self-service storage facility does not require an occupant to purchase property insurance from the licensee or that, if renting individual storage space does require the occupant to have property insurance, that the occupant may satisfy the requirement by providing evidence that the occupant has coverage from another source of property insurance;

(D) Describes the process for filing a claim under the terms of the insurance policy; and

(E) Lists all costs to the occupant in connection with the insurance.

(b) A licensee that completes a transaction with an occupant that purchases insurance from the licensee shall provide evidence to the occupant of the insurer’s coverage on a form that the insurer has approved.

(4) A licensee may sell only insurance provided by an insurer that is authorized under the Insurance Code to transact, in this state, the line of insurance that the licensee sells.

(5) A licensee may not advertise, represent or otherwise cause another person to understand or suppose that the licensee is a licensed insurer. [2013 c.280 §4]

1 Legislative Counsel Committee, CHAPTER 744—Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors744.­html (2017) (last ac­cessed Mar. 30, 2018).
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.